Korea's Bold Move: Establishing Hydrogen Clusters in the East
Key Ideas
- Korea is set to construct two hydrogen clusters in the east to support hydrogen-related businesses like batteries.
- Plans include building a hydrogen storage complex in Donghae and Samcheok, and a liquefaction plant in Samcheok.
- Pohang will also develop an industrial complex for hydrogen fuel cells to boost hydrogen battery exports.
- The government aims to invest 214.2 billion won with an additional 293.6 billion won from the private sector by 2028.
Korea is taking proactive steps to promote the growth of hydrogen-related industries by establishing two hydrogen clusters in the eastern provinces. The Ministry of Trade, Industry and Energy announced plans to build a special industrial complex for hydrogen storage and transportation in Donghae and Samcheok, Gangwon. Additionally, a hydrogen liquefaction plant is slated for construction in Samcheok after an economic feasibility study is completed in July. Another project will see Pohang transform into a hub for hydrogen battery exports through the construction of an industrial complex for manufacturing hydrogen fuel cells. The total investment from both the government and private sector is expected to reach 507.8 billion won by 2028. This initiative aims to create a comprehensive industrial ecosystem for the entire hydrogen value chain, encompassing production, storage, transportation, and utilization, signaling Korea's commitment to drive innovation and sustainability in the energy sector.